Sea Limited: FY Digital Entertainment Adj. Revenue To Rise 142.0%-157.2%

(RTTNews) - Sea Limited (SE) increased the guidance for both digital entertainment and e-commerce for the full year of 2019. The company now projects adjusted revenue for digital entertainment to be between $1.6 billion and $1.7 billion, representing 142.0% to 157.2% growth from 2018. The prior guidance was between $1.2 billion and $1.3 billion, representing 81.5% to 96.7% growth.

For the second-quarter, total adjusted EBITDA was negative at $11.0 million compared to a negative EBITDA of $161.9 million, a year ago. Total adjusted revenue increased by 203.1% to $665.4 million.

During the second-quarter, Digital Entertainment adjusted revenue increased by 218.6% to $443.2 million. Quarterly active users were 310.5 million, an increase of 93.3% year-on-year. Average revenue per user was $1.4 compared to $0.9, last year.